Exchange Traded Concepts LLC Reduces Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Exchange Traded Concepts LLC reduced its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 86.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,647 shares of the oil and gas company's stock after selling 28,920 shares during the period. Exchange Traded Concepts LLC's holdings in Helmerich & Payne were worth $121,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Hennessy Advisors Inc. purchased a new stake in Helmerich & Payne in the first quarter worth about $575,000. GAMMA Investing LLC grew its stake in shares of Helmerich & Payne by 85.4% during the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 1,459 shares during the period. Yousif Capital Management LLC increased its holdings in Helmerich & Payne by 3.8% in the 1st quarter. Yousif Capital Management LLC now owns 38,786 shares of the oil and gas company's stock worth $1,013,000 after acquiring an additional 1,413 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Helmerich & Payne by 10,355.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 29,381 shares of the oil and gas company's stock worth $767,000 after acquiring an additional 29,100 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Helmerich & Payne by 101.6% during the 1st quarter. Farther Finance Advisors LLC now owns 12,892 shares of the oil and gas company's stock worth $342,000 after acquiring an additional 6,496 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Performance

NYSE HP opened at $16.33 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $42.60. The business has a 50 day simple moving average of $17.99 and a two-hundred day simple moving average of $24.96. The stock has a market capitalization of $1.62 billion, a PE ratio of 7.46 and a beta of 0.84.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. During the same quarter last year, the business earned $0.84 EPS. Helmerich & Payne's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.12%. Helmerich & Payne's dividend payout ratio is presently 45.66%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HP shares. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Citigroup reiterated a "neutral" rating and issued a $19.00 price target (down previously from $25.00) on shares of Helmerich & Payne in a research note on Monday, May 19th. Susquehanna lowered their price objective on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Finally, Barclays dropped their price objective on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $27.45.

Helmerich & Payne Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) NYSE: HP is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.

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